you have got to be careful this week. >> you do have to be careful. there is a lot of data that will come out towards the end of the week. i do believe jobs will be strong again. >> okay. that does it for us. don't forget more fast at five. and power lunch starts right now. >> from fast money halftime to the second quarter, it is the first day of the second quarter. you knew that already. if it's anything like the first, life will be good. at least for stock market bulls. we'll discuss whether the rally in equities can continue. but there are, of course, some clouds on the horizon. there always are. but none bigger than north korea whose leader has ratcheted up his nuclear rhetoric, military threats against the u.s., south korea, and really against the

whole region and the globe. how worried should we be? how chilling could this threat turn out to be for the economies regionally and globally? we will talk to bill richardson who recently was in pyong yang. >> and his most senior portfolio manager, michaelsteinberg arrested over the weekend, taken out of his home early on friday morning. he has pleaded innocent. charged with insider trading. we will talk to the reporter who broke the story. but first sue back with us. happy belated easter. >> to you, too. thank you very much. so big three indexes taking a bit of a breather from a record rally in the first quarter. take heart. april is the best month of the year and there has not been a

decline. so in a percentage basis, the nasdaq has the biggest loss so far. can the q1 rally continue? good to see you, as always. we have mixed market out this morning and mixed data. to see the market pull out a little bit should not be a concern to anybody and people should welcome it. the dough is down fractionally. >> and some of the asian markets are still close. >> what about north korea? is that a distraction or a legitimate concern? >> it's more of a distraction. it's more of a noise.

it will be background nois. then,en in, all bets are off. but for the most part i think it's just noise. he wants to stamp his feet and be hert herd. >> down here they are certainly paying attention. >> if we're going to keep this rally in tact, what will they be watching? >> right? and both of those numbers are calling for plus 2,000,000. >> and no revisions with the unemployment number. >> very quickly. all of last week, all we heard was earnings are not going to be as good in this quarter. is that already in this market do you think?

>> you know what? i'm not so sure. we just rallied rallied rallied. we had to make a new high. i'm curious to see how the market is really going to react. my sense is that they start to be soft in the market. we will give some back as we should. >> if we could only stop right here right? thank you very much. tie, up to you. >> now to the subject of north korea. kim jong unga gathered followina declaration that nuclear bomb building and strong government are the top priority. we are here with more. >> here is what may be particularly frightening. we have grown used to north korea threatening south korea.

if you were to watch north korean state run television, you would think the country is at war. additionally, scenes have been shown which the country's young leaders showing a map of the united states supposedly planning an attack on hawaii. we don't know if the country has the capability of doing this. state tv is filled with massive military rallies for which the north koreans are famous. what does kim jong un want? is he trying to look strong for his people? understanding his motivation may be key to understanding how to resolve the situation. >> if he is new and presumably unpredictable. we don't know. and this talk of a level of it, the risks go up a little bit. >> anybody who invites dennis

rodman, i don't know what that says about his ability to be predictable on anything else. >> great to have you back in the house. how worried should the u.s. and the world be about all of these threats? this is a man who knows all about those threats, former new mexico governor, bill richardson and a former u.n. ambassador from washington. welcome. let me begin if i might with michelle's question. what in the world does this new leader want? >> well, the problem is that nobody knows because it's a very unpredictable dicey situation. what i assume is happening is his strings are being pulled by hard liners in the communist party in the north korean military. i don't think they're trotting him out to talk to anybody of substance because he is 29 years old. he's untested. he is uncertain in terms of his

standing with the north korean military. so, the answer is we don't know. should we be worried about what's happening there? yeah. is there a lot of bluster going on? yes. that's typical north korean movement. the worry that i have is that the party congress just basically declared they're going to continue their nuclear weapons development. that's bad news for the korean peninsula and our policy in that part of the world. so i'm concerned. i think what we need to do now is hopefully after this rhetoric goes down, after there is stability between north and south korea, and there is no certainty that has happened, some kind of creative diplomacy has happened. >> give me creative history if you would. on prior occasions, and made sort of those bellicose threats, what have they been going after and what has the outcome been?

what have they gotten, if anything? >> well, two and a half years ago, the north koreans fired upon a south korean ship. they fired in a south korean island. they killed people on the ship. this was a bellicose miscalculation on their part. the south koreans responded. tension was very high. i was there two and a half years ago and my sense was with kim jong il who was the father of kim jong un, and the north korean diplomatic core that they cooled down a little bit. they didn't get bellicose after that. the problem is that they have not responded positively to entreaties from the six party countries. the key player here is china. china has leverage. they provide food, fuel. but i don't think china is helping much in terms of putting pressure on the north koreans to

tamp down their rhetoric and cool their nuclear development. >> i want to get to that question. you said you were there two and a half years ago. but you were there within the last two months with famouslier rick schmidt, a business executive. did you get any kind of access like dennis rodman got to this guy? >> no. rodman got a lot better access than myself and eric schmidt. we got access to high level officials in the foreign ministry and other areas, but we didn't meet kim jong un. i don't think they want to meet with officials. i think they want to hide him for a while. what is happening two and a half years ago? i did not meet with kim jong il at the time, but i did meet with a number of people who seemed to be moderating not just their rhetoric but they stopped

responding to south korea, and things cooled down. >> remind me the purpose of your most recent trip? two and a half months and the rational for taking mr. schmidt along? >> three purposes. one we have an american detainee there that we wanted to get out. secondly, we were urging the north koreans not to have an underground nuclear test, to stop the missile launches. and third, whatter rick schmidt wanted to do is talk about the advantages of the internet. he was the rock star on that trip. the north koreans loved him. th that. >> you didn't think china was being particularly helpful or constructive here? why not we don't want refugees to stream into china so they like to leave the situation the

way it is. they did help with us the united nations security council resolution, the last one, that had very tough sanctions. but lately they criticize joint maneuvers with south korea. they criticize the b-2 flight, the stealth bomber flights. i think they haven't decided where they want to go. but clearly they have the most opportunity to have pressure on north korea because they provide them a lot of food, fuel, and investments, but they're not willing to use it. >> thank you once again for being with us. we appreciate your insights. >> thank you. >> you're welcome. just how concerned are you now that north korea will attack the u.s. we said that he was looking at maps of the u.s. with hawaii, washington d.c., austin, texas. we will bring you the results later in the show.

>> how concerned should investors be? international strategist. what a new perspective for us. the u.s. market certainly does not seem to be phased by what is going on. are there other markets that you think are vulnerable to that situation and rhetoric? >> you would think that you would see it most in the south korean equity market. obviously fl a targeted standpoint. you have seen a little bit of the pull back from the overall market but nothing we would consider something to be concerned about. and so we would view it if it causes a pull back, we would view this as an opportunity to

ak late equities. >> okay. so any pull back you would add to long positions in the south korean equity market, correct? >> absolutely. this is just another risk much like the middle east and europe that increases uncertainty. investors now more than ever, these levels need a strategy. >> would you be -- would you add to u.s. equity positions on a pull back? >> absolutely. you have got the u.s. dollar starting to rally with equities. it could be a very attractive time to be in the u.s. >> thank you very much. >> up to you. >> toys r us has with drawn its filing for an initial public offering citing unfavorable

market conditions. i thought the market conditions were pretty favorable. but maybe not to them? maybe not if you're selling toys. facing management defections and relentless competition from walmart and amazon. giants bane capitol and kravis roberts acquired the company toys r us for $6.6 billion in 2005 and now they want to flip it out and make some money. what's in the pipeline for the second quarter. jackie? >> that's right. ipo activity has held pretty much steady. raising over $7.6 billion. that's according to renaissance capital. ipo performance outpaced the broader market. there is also a notable shift towards yield plays worth taking

a look at there. in the meantime, that said, when looking at the pipeline, a couple of things to consider, allowing smaller companies to file confidentially. that could make the pipeline appear a bit smaller but there is actually a lot of activity occurring behind the scenes. some activity we are watching for. those deals covering a broad range of sectors. while dealser with pervasive, more tech deals are expected later this year. they have filed confidentially. while several other tech companies have reportedly hired banks in preparation. independent bank group. 3.2 million shares being offered.

>> thank you very much. >> the feds going after another capital. michaelsteinberg. we will talk live with the reporter who broke that story when power lunch comes back.

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receive a discount. use a credit card and you can save 15%. i should stay until july 7. walmart is up 1.25% at 75.76. >> michael broke the story and he joins us from new york city. good to have you with us. there are a variety of things going on here. there was another arrest involving a trader for a subsidiary fund at sac. they are trying to, i guess, get one of these guys to flip and really finger steve cohen. is that likely to happen? is there a clock ticking on this?

>> mr. cohen was trading in some of the same stocks that it was head he got inside information on. >> there was a tremendous amount of activity and news surrounding mr. cohen in the last weeks. one is that he reached a more than 600 million dollar agreement. that agreemented th has been st temporarily in the case. >> i think there seems to be a battle of the narratives here. you have the feds taking this very aggressive stance investigating, charging people, arresting people. and then you have steve cohen

trying to stem the tide of investors who want to get out of the tide of hedge funds. they said, you know, the worst is behind us. >> what's happening? are investors taking money out? most of the money in that fund is cohen and employees' funds anyway. >> that's right. they have about 15 billion now. might want to run his own money and get out of taking outside money. that seems to be a possibility if the momentum keeps going against him. >> thank you very much.

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the >> the nasdaq down about three quarters of a point. let's analyze the analysts. first up, united continental. the firm says unite's unit revenue is recovering, however margins have not yet started to improv. shares dropping today but rising over the past year. as you can see with a lot of the airlines, up 44%. agree? disagree? >> now i agree. if you had caught me three hours ago, i would have said i disagree because economic data had been okay. now two things have changed. isn number came out pretty quickly. and now appears to have rejected and continue on. now i agree with it. we're left with the fact that it has rallied 60%.

>> obviously a fluid situation and changing his mind in the last hour. >> look at the partner's ability to field the next generation. and over the past year it's been a bit of a struggle. one year? yes. there you see it. what do you think? >> any implication that they are losing this war with arm over power saving chips is an enormous deal so i agree with the call, certainly. i'm short a little bit of the stock. safety and dividend. the firm says we believe marketplaces will continue to be a stable growth engine and that

papal can surprise to the upside. the shares rising and surging over the past one year. >> so i love the call but so does the market. the pay pal stories is a big one. all they have to do is make their systems easy and particularly with mobile. if they make it easy enough for me to use it, i think it's a great story. >> all righty. >> gentlemen with the market's recent record highs, investment clubs are stronger and smarter than ever before. >> what happens when you get 20 women together and a beautiful mountain community? it gets pretty heated when they

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>> >> don't look now but we're almost positive after hitting record highs in the dough and the s&p in last thursday's trading day. the market just really seems as though it wants to push to the upside today. >> now remember what moved the most last quarter. this is sort of sell the gainers kind oof day.

technology and consumer discretionary groups. the defensive names, utilities and health care. they are the ones doing a little bit better than the overall market. you have got a double whamy here. it was still showing some expansion. we have copper futures sitting at an eight month low. and you see the damage that is being done in the commodity names today. we have new lows in ak steel. this is what i mean when i talk about the damage that's being done. oil is down. sharon will give you an update on this. 4% declines in some of the big

names. even the really big names. damage. >> there is definitely internal dwaj being done. >> they are getting support by more defensive names. >> let's go up to the nasdaq. hi, sema. you know what? let's go to rick. the bond market, we still see that decline in yield. what's going on? how much of this had to do with some of the early headline risk from north korea? i don't think it's a market m e mov mover. continued anxiety about

everything. if you look at intraday chart, we were on our way to 190 and a funny thing happened. we didn't get there. you could clearly see that since the highs that we made on the 11th of march at a yield of 206, we're down 22 basis points. if you look at bar clays, both of those spreads have widened a bit. the dollar index is down half a we had one close above it for a big move going back to august. back to you. >> we will watch those levels very carefully. now let's go up to the nasdaq. >> hi. will this be the quarter that

technology outperforms? that's the big question on the street. most of that has to do with apple given the significant leaning on for that matter. all eyes on capital allocation strategy. you can see shares of apple down today. take a look at sigh, back to you. and the gold market is just changing right now. how ditz look going into the close, sharon?

>> several are contributing to the rise that we're seeing. and the fact that we have seen money managers. in terms of elsewhere in the metals complex, keep your eye on the copper market. back to you. >> sharon, thank you very much. >> amy woo joins us and she is the options strategist. good to see you. >> good to be here. >> what is the options market signalling to you? it is not mirroring the enthusiasm. >> that's exactly right. the thing is, sue, as we continue to get higher, the fears built into the option market start to increase more

because investors are saying wow. for all time highs, how long is this high going to continue? >> is protection getting more expensive to put in place. >> the funny thing is the protection for the s&p 500 or iwm, the skew has been at all time highs for almost a year now. you're still seeing that but it has been on very low volume. >> sure. explain that a little bit more for those who may not know how to use the options market for

protection. tell us about that. >> sure. in a put spread structure you own, let's say on the iwm, a three month at the money put option but you sell one that's further out of the money. you're saying i don't think the market is going to go down 15, 20% but probably 7 or 8% from current levels. for buying one and selling the other you really reduce that cost for owning a hedge for protection. >> what is the options market telling us about that and how would you play that? >> a number of these indexes are showing a lot of sentiment. you're seeing it on a broad per

spktive now. these are maybe more tail like events. >> thank you so much for joining us today. >> thank you so much. with the u.s. markets recent all time highs, we're shining a light on investment clubs. >> who has hung on? 20 women in ohio. why all women? >> i don't know. it's just easier. >> hair yet ericson started the club. women pooling their money together and meeting monthly. it's so gorgeous up there. their portfolio group back down to $121,000. post 2008 they have started

using stop loss orders and now they're shifting from a momentum strategy as the market tops. >> in the last year or so we have lost a little bit of our mojo so we are finding our way to a new style of investing. >> the theme of the market right now in general is having more dividend paying stocks which is not our formula. that's why we're looking at making adjustments. >> the club's current holdings include apple, visa, and no stock created as much debate as apple. they are all over the map in that club. the worst investment they made? they bought lehman brothers in the summer of '08. next hour meet a bunch of guys

doing the same thing. >> forecast full profitability. >> citing a recovery in north american beer volumes. >> retirees stay tuned. as power lunch continues we move closer to the start of president obama's health care act as well. we have the information that you need to know to make smart investments. and one pioneer is making his wedding a medieval affair. justin timberlake played him. power is back in two. the douw is only down six.

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>> >> we are now six months away from massive reform for the obama care plans. for medicare advantage plans, a big reimbursement plan begins this afternoon. what's going on? >> lots of moving parts, literally. the obama administration and the states say they are moving

forward for the start of enrollment season. one big question, how many people will show up to be insured and how many of them will gain coverage through medicare expansion. the supreme court let states opt out of that part of the affordable care act last week. tennessee became the 18th republican state led by a republican governor to opt out. those are the states in red. but the states opting out could still see a spike in medicare enrollment. a third of the 21 million people who could gain coverage are already eligible. they just haven't signed up. that could change this fall. >> there is going to be a big public education and outreach campaign that will kick into high gear this summer. so you may have a lot of people who didn't realize that they were eligible coming into state

medicaid offer offices. >> when it comes to medicare and medicaid, a big announcement this afternoon for the centers of medicare and medicaid. last month, the news hitting medicare advantage. the stocks are mixed today. hum humana is higher on the hopes that it won't be that bad. >> they have several control rooms just like this. they have published as many as 25,000 video clips a day during

the season. we will have more eye popping numbers and eye popping dollar signs when it comes to mlb advanced media when power lunch comes right back. >> >> we asked how concerned are you. 10% say very concerned. 28% say somewhat concerned and 62% say not concerned at all. that is a story that we will

continue to follow none the less. welcome back. >> here is the show. actually it's on our software. i will let people read it on their own. actually, no. the first quarter that's up means the second quarter or a full year. we will crush the rumors or bring you real data. ian brimmer is here. since it's apple's birthday today, here is a question. if you put 100 bucks into apple's ipo would you have more or less money than if you put 100 bucks into dell's ipo. it might actually surprise you a bit. >> thank you very much. it is opening day for most of the major league clubs but instead of play ball it's play app. m mlb is the most profitable

sports app of all time. that is a great shot behind you. >> they have impressive facilities. everything is humming on all cylinders. it means thousands of feeds, images, and videos all to supply the most profitable and successful mobile app in the entire world. anybody can watch out of market games on any mobile device. the cheapest and best way for any transplanted person to watch a team that they love. revenue is north of $600 million. that's $200 million in value to each team. and according to bob, head of -- because of mobile it's only going to get bigger. >> i think we're just scratching the surface now and it's really

all going to be mobile. it will be 90% within three years. >> it's interesting, tiler. they think that blackberry is going to be sticking around. the mlb at bat app is fully functional for the z10. a lot of people wondered if they should wait and see how it should do. mlb is not waiting. they are fully functional. >> i will have to check that one out. and the yankees were losing 3-0 to the red sox. >> will michael dell succeed in taking dell private? we will discuss when we come back. ♪

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>> and >> and sit the power run down time. let's start with dell, the number three pc maker saying that proposals from black stone and carl i con are risky because according to dell they would keep the company partly public. so is the best move for shareholders for dell to go private and for those shareholders to get paid off right now? >> it's almost always the right move to get paid off right now. there is a lot of risk in the pc industry. keeping the public -- if you're a public shareholder, you want to cash out right away. >> estimates are for pc ship shipments to drop 8%. how are they going to do that? this is likely to go in the private route. this has cost mr. dell a heck of a lot more in terms of money and reputation. >> moving on, staying with tech.

tim cook apologizing for warranty policies after apple's negative press in its second largest market. is mr. cook just saving face? he's got to do something. they were really hammering apple over there in the press. >> i think this represents a new sensibility for apple. if the allegations are true, we look at the letter. he talks about apple's attitude was arrogant. what are these? these are asian sensibilities. >> i think apple was having a big problem in the u.s. they're known for having good customer service. my iphone has broken. i brought it to the apple store and they replace it. it's been very good. >> and inside the world of

napster. the "new york post" says the tech pioneer who is known for his outrageous behavior will be getting married in a forest in big sir california, and there will be a medieval theme. all of silicon valley dressed up as knights and ladies. >> good for shawn parker for getting married. if he wants to have a wild time doing it, all the power to him. >> my kingdom for another crack at napster. if only i could do it over again. i agree. there was an era where everybody was concerned about not showing off their wealth this guy has done it all, not just with facebook but remember some of the other things, plaxo, spotify. >> he has made his investors a ton of money. he deserves to have fun.

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heading off >> heading off the easter egg roll hunt on the white house lawn. the easter bunny, tuzens of professional athletes and dozens of children scouring the lawn. among those in attendance, danica patrick and zane wallace. there were 30,000 people at the white house today doing the egg roll.